Disney: Credit Suisse upgrades to 'Outperform'
(CercleFinance.com) - Credit Suisse said on Wednesday that it is upgrading its recommendation on the Disney share to "outperform", with a target price of 146 dollars.
While noting that the media giant unveiled better-than-expected quarterly results yesterday, the broker believes that the keystone of the case is the Disney+ video-on-demand service.
"Overall, with new CEO Mr. Bob Chapek now indicating an “innovative and bold” further pivot to streaming, we expect Disney shares to be even more aggressively positioned as a streaming growth story (where investors have limited investment vehicles), and eventual COVID recovery play", Credit Suisse said.
Investors clearly agree - the share is up nearly 10% an hour into trasding on Wall Street.
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